All Forum Posts by: Eric Gerakos

Also ground zero for this is Riverside and San Bernidino counties in CA. there are over 2 million undeveloped platted lots. thousands are bought and sold at tax sale yearly.

there was a company I think they are still around .. In San Carlos CA.. and they bought these buy the hundreds and then marketed to Chinese in China.. the owners were Chinese as well.. big show .. big office pictures with Reagon,,, rolls Royce in front of the office

These are legal lots of record with little to no real value .. but they couch it as this is going to be the next LA.... LOL la la land is what most of this is.

Wait, Erik Estrada said California Pines was paradise. You're saying it's not? Lol.

well its pretty land however location location location.. Alturas is quite remote. these subdivisions that were built in CA in the day were massive with little to no regulations.. Boise Cascade built 27 of them from socal to Norcal mainly in the foothills of the Seirra Nevada some have been very successful others are still mostly dormant like CA Pines.

I was joking. Mostly worthless lots sold by a celebrity spokesperson.....

0 Votes

Quote from @Jay Hinrichs:

@JJ W.

Also ground zero for this is Riverside and San Bernidino counties in CA. there are over 2 million undeveloped platted lots. thousands are bought and sold at tax sale yearly.

These are legal lots of record with little to no real value .. but they couch it as this is going to be the next LA.... LOL la la land is what most of this is.

Wait, Erik Estrada said California Pines was paradise. You're saying it's not? Lol.

0 Votes

Quote from @Jack B.:

Quote from @Eric Gerakos:

Take advantage of high interest rates by buying first trust deeds. Currently paying 9%. Be the bank.

Does this work in a 1031 exchange? Or will I have to pay capital gains tax?

You would need to pay tax.

0 Votes

Seattle, Washington

Take advantage of high interest rates by buying first trust deeds. Currently paying 9%. Be the bank.

0 Votes

Seattle, Washington

Tim, paying extra to your primary loan that has a 3.78% rate is not putting your money to work for you. Save the extra cash and invest in something that's paying considerably more than 3.78%. For example I did a cash out refi on a rental 2 yrs ago and pulled $200,000 out of the rental at 3.5%. Now that $200,000 is earning 9% in first trust deeds and the rental still cash flows. Don't pay down low interest rate loans. Put that money to work making you more money.

1 Vote

Billings, Montana

Keep in mind that a C class 8plex can look great on paper but end up being a money pit with negative cash flow. Always consider who your tenants will be. Best of luck.

2 Votes

Saint Petersburg, Florida

Cars don’t have “back windshields.” Only front windshields and rear windows. A falling walnut has never broken a cars rear window in recorded history.

1 Vote

Atlanta, Georgia

Quote from @Ave Escobar:

The current lender is a hard money lender and the loan was I/O 24 months with a Ballon payment due 10/01/2023. I will probably wholesale for a fee. No longer interested in tenant & toilets.

What’s a “Ballon”?

0 Votes

Los Angeles County, California

Welcome and good luck.

0 Votes

Tulsa, Oklahoma

Quote from @Sameena K.:

We invested with them and they have been irresponsible, incompetent, and unprofessional. We've been investing in RE for over 10 years, about 4 mm across investments. We made a big mistake trusting them to honor their word and their contracts.

So he should invest with them, right?

0 Votes

All Forum Posts by: Eric Gerakos

Eric Gerakos has started 0 posts and replied 674 times.

Post: Calling Out Mark Podolsky from the Land Geek

Post: Calling Out Mark Podolsky from the Land Geek

Post: Want to sell 1-3 of my single family rentals, but where to put the money?

Post: Want to sell 1-3 of my single family rentals, but where to put the money?

Post: Which one should I throw extra $$ at first?

Post: 1031 to 8 unit multifamily: low-risk financing

Post: Walnut damaged tennant's back windshield

Post: Nod due to Ballon date expire

Post: Hi new to bigger pockets

Post: Has anyone worked with or invested in Techvestor before?